The SEC Bungles Stanford Financial Investigation

To the surprise of absolutely nobody, the SEC bungled their handling of yet another multi-billion dollar fraud.

First it was Bernard Madoff and Madoff Securities. Despite having this case handed to them on a silver platter by Harry Markopolos, the SEC didn't take action against Madoff and his fraud swelled to many tens of billions of dollars. Markopolos led the SEC by the hand on the case, even interviewing with SEC officials and presenting them with a document that laid out the case against Madoff, red flag by red flag.